brand equity
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TRANSCRIPT
- 1. BRAND EQUITY
- Presented by:-Avtar Singh
2. What is a brand?
- A brand is a name, term, sign, symbol, or design,
- or a combination of them,
- intended to identity the goods or services
- of one seller or group of sellers
- and to differentiate them from those of competitors
3. Brand equity
- Brand Equity is aset of assetslinked to abrands name and symbolthatadds to the valueprovided by a product or service to afirm and/or that firms customers
- Brand Equity isaset of liabilitieslinked to a brandsname and symbol thatsubtracts from the valueprovided by a product or service to afirm and/or that firms customers
4. Brand equity: Key aspects
- Brand equity is a set of assets
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- Management of brand equity involves investment to create and enhance these assets
- Each brand equity asset creates value in a variety of very different ways
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- It is imperative to be sensitive to the ways in which strong brands create value
- Brand equity creates value for customer and firm
- For assets or liabilities to underlie brand equity, they must be linked to name/symbol of the brand
5. Value to the customer
- Brand equity assets can help customers interpret, process and store huge quantities of info about products / brands
- It can affect customers confidence in purchase decision
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- Due to past-use experience or familiarity with brand
- Both perceived quality and brand associations can enhance customers satisfaction with use experience
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- Knowing brand isArrowcan make user feel different
6. Value to the firm
- Brand equity can enhance programmes to attract new customers or recapture old ones
- Perceived quality, associations and known name provide reasons to buy & affect use satisfaction
- Usually allows higher margins by permitting both premium pricing and reduced promotions
- Can provide leverage in the distribution channel
- Brand equity assets provide a competitive advantage that present a barrier to competitors
7. Major asset categories
- Brand name awareness
- Perceived quality
- Brand loyalty
- Brand associations
8. Brand Equity
- Brand Loyalty: Higher Loyalty to a brand is an important asset. It can be utilized to persuade customers for more purchase or for spreading word of mouth.
- Name Awareness: Creating Name Awareness is a necessary condition for trial. Customers rarely purchase an unknown brand.
- Perceived Quality: A known brand often conveys an aura of quality. Customers own judgment about quality induces purchase action.
- Brand Associations: Customers attach certain subjective and emotional attachments which form a part of the brand equity. Those associations together form a brand personality, which suggests situations and customers for whom the particular brand is suited.
- Other Assets: Patents, Trademarks, etc. are valuable other assets of a brand
9. Customer-Based Brand Equity Model Consumer- Brand Resonance Brand Salience Consumer Judgments Consumer Feelings Brand Performance Brand Imagery INTENSE, ACTIVE LOYALTY RATIONAL & EMOTIONAL REACTIONS POINTS-OF-PARITY & POINTS-OF-DIFFERENCE DEEP, BROAD BRAND AWARENESS 10. Salience Dimensions
- Depthof brand awareness
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- Ease of recognition & recall
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- Strength & clarity of category membership
- Breadthof brand awareness
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- Purchase consideration
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- Consumption consideration
11. Performance Dimensions
- Primary characteristics & supplementary features
- Product reliability, durability, and serviceability
- Service effectiveness, efficiency, and empathy
- Style and design
- Price
12. Imagery Dimensions
- User profiles
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- Demographic & psychographic characteristics
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- Actual or aspirational
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- Group perceptions -- popularity
- Purchase & usage situations
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- Type of channel, specific stores, ease of purchase
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- Time (day, week, month, year, etc.), location, and context of usage
- Personality & values
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- Sincerity, excitement, competence, sophistication, & ruggedness
- History, heritage, & experiences
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- Nostalgia
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- Memories
13. Judgment Dimensions
- Brand quality
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- Value
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- Satisfaction
- Brand credibility
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- Expertise
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- Trustworthiness
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- Likability
- Brand consideration
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- Relevance
- Brand superiority
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- Differentiation
14. Feelings Dimensions
- Warmth
- Fun
- Excitement
- Security
- Social approval
- Self-respect
15. Resonance Dimensions
- Behavioral loyalty
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- Frequency and amount of repeat purchases
- Attitudinal attachment
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- Love brand (favorite possessions; a little pleasure )
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- Proud of brand
- Sense of community
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- Kinship
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- Affiliation
- Active engagement
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- Seek information
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- Join club
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- Visit web site, chat rooms